A contribution of foreign direct investment to economic growth is possibly one of the widely examined topics in academic research in the last five decades. However, few studies have examined both the short run and long run impacts of this effect concurrently for developing and emerging markets,...

Using newly panel data on visa restrictions for the years 2000 and 2010 in a theory-grounded gravity model, we find a robust, causal negative impact of visa restrictions on international tourist flows. By destination, the detrimental impact of this type of barrier is observed for tourists going...